Principal Financial Group Inc. Increases Stake in Zeta Global Holdings Corp. $ZETA

Key Points

• Principal Financial Group sharply increased its stake in Zeta Global Holdings, boosting holdings by 7,696.7% in the first quarter to 868,239 shares valued at about $13.8 million.
• Other institutional investors also moved into or expanded positions, and hedge funds and institutions now own 87.75% of Zeta Global’s shares.
• Inside the company, director Jeanine Silberblatt sold 7,500 shares, while analysts remain mostly bullish with a consensus Moderate Buy rating and an average price target of $28.33.

Principal Financial Group Inc. boosted its holdings in shares of Zeta Global Holdings Corp. (NYSE:ZETA - Free Report) by 7,696.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 868,239 shares of the company's stock after buying an additional 857,103 shares during the quarter. Principal Financial Group Inc. owned 0.36% of Zeta Global worth $13,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its position in shares of Zeta Global by 3,150.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,300 shares of the company's stock worth $26,000 after acquiring an additional 1,260 shares during the period. DV Equities LLC purchased a new position in Zeta Global in the fourth quarter valued at $29,000. Binnacle Investments Inc acquired a new position in Zeta Global during the 3rd quarter worth $30,000. United Community Bank acquired a new position in Zeta Global during the 4th quarter worth $31,000. Finally, National Bank of Canada FI increased its holdings in Zeta Global by 223.1% during the 3rd quarter. National Bank of Canada FI now owns 1,835 shares of the company's stock worth $36,000 after purchasing an additional 1,267 shares during the period. Hedge funds and other institutional investors own 87.75% of the company's stock.

Insider Transactions at Zeta Global

In related news, Director Jeanine Silberblatt sold 7,500 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $19.89, for a total value of $149,175.00. Following the completion of the transaction, the director directly owned 50,350 shares of the company's stock, valued at $1,001,461.50. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.74% of the stock is owned by company insiders.

Zeta Global Stock Down 4.1%

Zeta Global stock opened at $19.36 on Friday. The stock has a market cap of $4.83 billion, a PE ratio of -176.02, a P/E/G ratio of 2.98 and a beta of 1.37. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.07. The stock's fifty day moving average is $20.50 and its two-hundred day moving average is $18.84. Zeta Global Holdings Corp. has a 1-year low of $14.36 and a 1-year high of $25.95.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. DA Davidson reaffirmed a "buy" rating and issued a $30.00 price target on shares of Zeta Global in a research report on Wednesday, June 24th. B. Riley Financial restated a "buy" rating on shares of Zeta Global in a research note on Friday, May 1st. Bank of America raised their target price on shares of Zeta Global from $24.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Zeta Global from a "hold" rating to a "buy" rating in a research note on Saturday, June 20th. Finally, KeyCorp upgraded shares of Zeta Global from a "sector weight" rating to an "overweight" rating and set a $22.00 price target for the company in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Zeta Global currently has a consensus rating of "Moderate Buy" and an average price target of $28.33.

About Zeta Global

Zeta Global, founded in 2007 and headquartered in New York City, is a leading data-driven marketing technology company. The firm's mission centers on helping brands acquire, grow and retain customers through a unified customer lifecycle management platform. Over the years, Zeta Global has built a reputation for leveraging big data and predictive analytics to power digital marketing programs across multiple channels.

At the core of Zeta's offering is the Zeta Marketing Platform, which combines identity resolution, audience insights and real-time engagement capabilities.

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